Commerce.gov is getting a facelift soon. See the new design.
Syndicate content

Blog Category: Bureau of Economic Analysis

Statement from Under Secretary Blank on August 2009 Personal Income and Outlays

Portrait of Under Secretary Blank.

The U.S. Commerce Department’s Bureau of Economic Analysis released personal income and outlays for August 2009. Personal income rose 0.2 percent, real personal consumption expenditures jumped 0.9 percent, and real disposable personal income decreased 0.2 percent. “The recent growth in consumer spending along with the gains in housing activity, exports and industrial production suggest that the economy is beginning to expand after contracting in four consecutive quarters,” U.S. Commerce Under Secretary for Economic Affairs Rebecca Blank said. (More) (Release)

Statement from Chief Economist Doms on Third Estimate of GDP

Portrait of Mark Dom.

The U.S. Commerce Department’s Bureau of Economic Analysis today released the third estimate of real gross domestic product (GDP) for the second quarter of 2009. The drop in real GDP was revised modestly to 0.7 percent at an annual rate from the second estimate of 1.0 percent. Most analysts had expected a decrease of 1.2 percent. The modest revision primarily reflected an upward revision to non-residential fixed investment. “Today's revision of real GDP in the second quarter indicates that the economy has begun to stabilize,” Mark Doms, chief economist at the U.S. Commerce Department, said. (More) (Release)

Secretary Locke Statement on July 2009 Trade Numbers

Department of Commerce seal.

U.S. Commerce Secretary Gary Locke issued the following statement on the release of the July 2009 U.S. International Trade in Goods and Services report by the Commerce Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report showed that U.S. exports increased by 2.2 percent to $127.6 billion since June 2009. Imports increased 4.7 percent to $159.6 billion. (More) (Fact Sheet)

Statement from Under Secretary Blank on July 2009 Personal Income and Outlays

Blank portrait.

The U.S. Commerce Department's Bureau of Economic Analysis today released personal income and outlays for July 2009. Real personal spending increased 0.2 percent and personal income increased less than 0.1 percent, after decreasing 1.1 percent in June. “During the first half of the year, more than 95 percent of working families benefitted from tax relief under the Recovery Act, which has boosted Americans’ disposable income,” U.S. Commerce Under Secretary for Economic Affairs Rebecca Blank said. “This increase has helped stabilize economic conditions in the wake of the worst economic environment in generations.” (Release)

Statement From Undersecretary Blank on Second Estimate of GDP in Second Quarter of 2009

Department of Commerce seal.

The U.S. Commerce Department’s Bureau of Economic Analysis today released the second estimate of gross domestic product (GDP) for the second quarter of 2009. Real GDP declined at a 1.0-percent annual rate, unchanged from the advance estimate. Most analysts had expected a larger drop of 1.5 percent. “The economy’s better than expected performance in the 2nd quarter suggests that it is beginning to stabilize,” U.S. Commerce Under Secretary for Economic Affairs Rebecca Blank said. (More) (BEA Release)

Secretary Locke Statement on Trade Numbers

Department of Commerce seal.

U.S. Commerce Secretary Gary Locke issued the following statement on the release of the June 2009 U.S. International Trade in Goods and Services report by the Commerce Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report showed that U.S. exports increased by 2 percent to $125.8 billion, which closely tracked the increase in imports, which rose 2.3 percent to $152.8 billion. The trade gap widened to $27 billion from $26 billion, better than analysts’ expectations. (More) (Release) (Fact Sheet)

BEA: Personal Income Growth for Metropolitan Areas Slows in 2008 Over 2007

Map of U.S. indicating percent change of personal income.

Personal income growth slowed in 2008 in most of the nation's metropolitan statistical areas (MSAs), according to estimates released today by the Department of Commerce’s U.S. Bureau of Economic Analysis (BEA). Personal income growth slowed in 322 MSAs, increased in 42, and remained unchanged in 2 MSAs. On average, MSA personal income grew 3.3 percent in 2008, down from 6.0 percent in 2007. Advance metropolitan area income estimates for 2008 are available interactively on BEA's Web site at www.bea.gov/regional/reis/ and select table AMSA. (More)

Commerce Secretary Locke Statement on 2nd Quarter GDP Numbers

Photo of Secretary Locke.

File Photo

The Commerce Department’s Bureau of Economic Analysis released data on GDP in the second quarter along with comprehensive revisions to the historical GDP data. Real GDP declined 1.0 percent at an annual rate in the second quarter, better than the private-sector expected drop of 1.5 percent. This decline is noticeably less than the larger decreases of 5.4 percent in the fourth quarter of 2008 and 6.4 percent in the first quarter of 2009. (More)

Secretary Locke Statement on Trade Numbers

Photo of Secretary Locke.

File Photo

U.S. Commerce Secretary Gary Locke issued the following statement on the release of the May 2009 U.S. International Trade in Goods and Services report by the Commerce Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report showed that U.S. exports increased by 1.6 percent to $123.3 billion since April 2009. Imports decreased 0.6 percent to $149.3 billion. The goods and services trade deficit has fallen to the lowest level in this decade. Overall, the trade deficit declined by 9.8 percent during the month. (More) (Fact Sheet)

Secretary Locke Statement on March 2009 Trade Numbers

Department of Commerce seal.

U.S. Commerce Secretary Gary Locke issued the following statement on the release of the March 2009 U.S. International Trade in Goods and Services report by the Commerce Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report showed that U.S. exports decreased by 2.4 percent to $123.6 billion since February 2009. Imports decreased 1.0 percent to $151.2 billion. Overall, the trade deficit grew 5.5 percent during the same time period. “Today’s numbers are better than many economists predicted, and it’s worth noting that the trade deficit is half of what it was in the first quarter of 2008.” (More) (Fact Sheet)